Conning Inc. Sells 610 Shares of United Rentals, Inc. (NYSE:URI)

Conning Inc. lowered its stake in shares of United Rentals, Inc. (NYSE:URI - Free Report) by 48.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 657 shares of the construction company's stock after selling 610 shares during the period. Conning Inc.'s holdings in United Rentals were worth $412,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new position in United Rentals in the 4th quarter worth about $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of United Rentals in the first quarter worth about $26,000. Murphy & Mullick Capital Management Corp bought a new position in shares of United Rentals in the fourth quarter valued at approximately $27,000. Meeder Asset Management Inc. boosted its position in shares of United Rentals by 241.7% in the fourth quarter. Meeder Asset Management Inc. now owns 41 shares of the construction company's stock valued at $29,000 after acquiring an additional 29 shares during the period. Finally, OFI Invest Asset Management purchased a new position in United Rentals during the fourth quarter valued at approximately $36,000. 96.26% of the stock is owned by institutional investors.

United Rentals Trading Down 0.4%

Shares of URI traded down $3.29 during mid-day trading on Friday, reaching $784.50. The company's stock had a trading volume of 342,929 shares, compared to its average volume of 587,529. United Rentals, Inc. has a 52 week low of $525.91 and a 52 week high of $896.98. The stock has a market cap of $50.99 billion, a PE ratio of 20.31, a P/E/G ratio of 1.94 and a beta of 1.69. The company's fifty day moving average price is $705.94 and its two-hundred day moving average price is $683.29. The company has a current ratio of 0.85, a quick ratio of 0.79 and a debt-to-equity ratio of 1.31.

United Rentals (NYSE:URI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $8.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.92 by ($0.06). The business had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.61 billion. United Rentals had a net margin of 16.38% and a return on equity of 33.11%. The business's quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.15 earnings per share. On average, analysts predict that United Rentals, Inc. will post 44.8 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a dividend of $1.79 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $7.16 dividend on an annualized basis and a yield of 0.91%. United Rentals's dividend payout ratio is currently 18.54%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley raised shares of United Rentals from an "equal weight" rating to an "overweight" rating and set a $702.00 price target for the company in a report on Wednesday, April 16th. Cfra Research raised United Rentals to a "strong-buy" rating in a research note on Friday, April 25th. Citigroup restated a "buy" rating and set a $810.00 target price (up from $740.00) on shares of United Rentals in a research report on Tuesday, June 24th. The Goldman Sachs Group raised their price target on United Rentals from $770.00 to $850.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, UBS Group raised United Rentals from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $485.00 to $780.00 in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $766.23.

Insiders Place Their Bets

In other United Rentals news, VP Andrew B. Limoges sold 708 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $705.86, for a total value of $499,748.88. Following the transaction, the vice president owned 1,921 shares in the company, valued at approximately $1,355,957.06. The trade was a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael D. Durand sold 1,100 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $626.28, for a total transaction of $688,908.00. Following the sale, the executive vice president owned 8,748 shares of the company's stock, valued at approximately $5,478,697.44. This represents a 11.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

United Rentals Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.